Credit Card Types

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Does 'platinum' really reflect a dollar amount or superb credit anymore?

Not so much, unless you carry the original. American Express "invented" the Platinum Card in 1984 as an attempt to fight off competition against its premium Gold Card. Instead of letting other companies poach their most valuable customers, executives at AmEx loaded up their invitation-only card with some of the industry's best perks. The Platinum Card from [...]

Is there a rating system for credit cards? Is platinum better than gold for all credit cards?

Unlike Olympic medals, there's no consistent pecking order for credit cards based on their color or material, with one exception. You can thank Bank of America and American Express for inventing the metallic tiers we know today. Until the 1960s, consumers chose credit cards by brand name: American Express catered mostly to frequent travelers, Diners [...]

Do credit unions offer credit cards? Will they have better rates or features? How can I compare them with big bank cards?

As member-driven institutions, credit unions operate on behalf of their account holders instead of solely for the benefit of shareholders. When you deposit cash in a credit union, caretakers reinvest your savings into the community, usually as mortgage or auto loans. However, credit cards require lots of overhead to operate. Therefore, many credit unions outsource [...]

If we have a short sale on our otherwise solid credit report, do you think we could qualify for a new credit card?

Q: If we have a short sale on our record but great credit card history, do you think we could qualify for a new credit card? We don't like the one we have. A: First, I'm very sorry to hear about your short sale. A short sale can feel like a lifesaver, in that it allows [...]

Does this website give me a list of the cards that best fit my credit?

Q: Does this website give me a list of the cards that best fit my credit? A: The short answer is yes. The CardRatings.com database lets you search for credit card offers in five broad consumer categories based on a credit score. Since the passage of the Credit CARD Act, the Federal Reserve has required banks to [...]

How do I compare various credit card types?

Question: How do I compare various credit card types? Answer: CardRatings.com lists credit cards by category. You can select from search criteria for cards specializing in everything from cash back, balance transfers, low interest, rewards points and instant approval. You can look for cards that are dedicated to frequent flyers, students, businesses and business owners. You [...]

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Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

The ratings are the expert opinion of our editors, and not influenced by any remuneration this site may receive from card issuers.

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